Choreo LLC Decreases Stock Position in Philip Morris International Inc. (NYSE:PM)

Choreo LLC trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 4.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,319 shares of the company's stock after selling 5,554 shares during the period. Choreo LLC's holdings in Philip Morris International were worth $20,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Perigon Wealth Management LLC boosted its stake in shares of Philip Morris International by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock valued at $2,236,000 after buying an additional 60 shares during the period. TBH Global Asset Management LLC raised its holdings in shares of Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock valued at $1,100,000 after purchasing an additional 61 shares in the last quarter. Capital Advisors Wealth Management LLC raised its holdings in shares of Philip Morris International by 2.1% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock valued at $477,000 after purchasing an additional 63 shares in the last quarter. Lloyd Advisory Services LLC. raised its holdings in shares of Philip Morris International by 3.3% during the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock valued at $323,000 after purchasing an additional 64 shares in the last quarter. Finally, Western Wealth Management LLC raised its holdings in shares of Philip Morris International by 1.5% during the 1st quarter. Western Wealth Management LLC now owns 4,446 shares of the company's stock valued at $706,000 after purchasing an additional 64 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Shares of Philip Morris International stock traded down $13.03 during trading on Tuesday, hitting $167.45. 7,207,667 shares of the company's stock traded hands, compared to its average volume of 5,673,641. The company has a market cap of $260.64 billion, a PE ratio of 34.42, a PEG ratio of 2.56 and a beta of 0.51. Philip Morris International Inc. has a twelve month low of $106.76 and a twelve month high of $186.69. The firm's fifty day moving average price is $178.83 and its 200 day moving average price is $159.09.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.86 by $0.05. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The firm had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the previous year, the business earned $1.59 earnings per share. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio is 111.34%.

Analysts Set New Price Targets

Several brokerages recently commented on PM. Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a report on Tuesday. Stifel Nicolaus lifted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Barclays reiterated an "overweight" rating on shares of Philip Morris International in a report on Tuesday. Finally, Needham & Company LLC started coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $186.73.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.